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Article L214-24-11 of the French Monetary and Financial Code

The depositary may be held liable to the unit-holders or shareholders of the AIF either directly or indirectly through the management company, depending on the legal nature of the relationship between the depositary, the management company and the unit-holders or shareholders.

Original in French 🇫🇷
Article L214-24-11

La responsabilité du dépositaire à l’égard des porteurs de parts ou actionnaires du FIA peut être mise en cause directement, ou indirectement par l’intermédiaire de la société de gestion, selon la nature juridique des rapports existants entre le dépositaire, la société de gestion et les porteurs de parts ou actionnaires.

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